With another day in the green yesterday, the Dow Jones Industrial Average (DJIA) saw its eighth straight day of gains, making the current streak the longest winning streak for the DJIA since last July’s post-Brexit rally, and just the sixth winning streak of this duration or longer during the current bull market (chart right). Prior to last July’s nine-day streak, you had to go all the way back to 2013 to find another winning streak of eight or more trading days.
In today’s Chart of the Day (available to all clients), we took a look at prior eight-day winning streaks for the DJIA to see how the index performed going forward including the odds of the hike continuing to day nine. The results may surprise you. If you are interested in seeing the results, start a 14-day free trial below and check it out!